The demand function for a certain product is p = 81 - x2 and the supply function

Question:

The demand function for a certain product is p = 81 - x2 and the supply function is p=x2+4x+11. Find the equilibrium point and the consumer's surplus there. In the following equation p and C are in dollars and x is the number of units.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 07:27 AM

See More Questions

The demand function for a certain product is given by p= 500 + 1000 / q+1 Where p is the price and q is the number of units demanded. Find the average price as demand ranges from 49 to 99 units.
The demand function for a certain product is p = 100/(1+2x). If the equilibrium quantity is 12 units, what is the consumer's surplus? In the following equation p and C are in dollars and x is the...
The demand function for a certain product is p=144-2x2 and the supply function is p=x2+33x+48. Find the producer's surplus at the equilibrium point. In the following equation p is in dollars and x is...
Smart housing Inc. is negotiating a deal to build a house. The owner wants to start in early spring when the weather begins to moderate and build through the summer into the fall. The completion time...
A locomotive is propelled by a turbine whose axle is parallel to the axes of wheels. The turbine's rotation direction coincides with that of wheels. The moment of inertia of the turbine rotor...
Describe the two major constraints inherent in the presentation of accounting information.
Consider the monetary approach to exchange rates (MAER) model given in Equation 15.19. Suppose that each of the domestic hat variables in that equation is growing at exactly the same rate as its...
You purchase 1,000 shares of Spears Grinders Inc. stock for $45 per share. A year later, the stock pays a dividend of $1.25 per share and it sells for $49. a. Calculate your total dollar return. b....
List marketing budget and resources required to execute your marketing campaign, and estimate what it will cost. Include items such as labor, materials and other expenses such as: print materials,...
As of June 30, 2022 (the computation date for the 2023 tax rate), Sanchez Company had a negative balance of $1,190 in its unemployment reserve account in State A. The companys average payroll over...
Find the total income over the next 8 years from a continuous income stream with an annual rate of flow at time t given by f (t)=8500e-0.2t (dollars per year).
The demand function for a product is p=49-x2 and the supply function is p=4x+4. Find the equilibrium point and the consumer's surplus there. In the following equation and C are in dollars and x is...
a. If an interest rate is given as 12 percent, compounded daily, what do we call this rate? b. What is an APR? What is an EAR? Are they the same thing? c. In general, what is the relationship between...
In reporting proved oil and gas reserves, how are geographic areas determined?
List and briefly discuss the three basic types of drilling contracts.
Discuss the disclosures required for exploratory well costs that continue to be capitalized for a period longer than one year beyond completion of drilling.
Define the following terms: dry hole wells and equipmentlease and well equipment wells and equipmentIDC day-rate contract footage-rate contract turnkey contract AFE Christmas tree sidetracking
According to ASU 932-235-50, what is a publicly traded company?
The form on page 6-47 shows the amounts that appear in the Earnings to Date column of the employees earnings records for 10 full- and part-time workers in Unger Company. These amounts represent the...
When a company has a contract involving multiple performance obligations, how must the company recognize revenue?
The table gives the number of yeast cells in a new laboratory culture. (a) Plot the data and use the plot to estimate the carrying capacity for the yeast population. (b) Use the data to estimate the...
The population of the world was about 5.3 billion in 1990. Birth rates in the 1990s ranged from 35 to 40 million per year and death rates ranged from 15 to 20 million per year. Lets assume that the...
(a) Make a guess as to the carrying capacity for the U.S. population. Use it and the fact that the population was 250 million in 1990 to formulate a logistic model for the U.S. population. (b)...
An automobile cooling system holds 16 L of water. How much heat does it absorb if its temperature rises from 20 C to 80 C? A 5.0 kg lead ball is dropped into a 2.0 L insulated pail of water initially...
A 15.0 kg box is allowed to slide from rest down a ramp that makes an angle of 30.0 o to the horizontal. The coefficient of friction between the box and the ramp is 0.400 and the ramp is 5.00 m long....
1. A bowling ball rolls without slipping up a ramp that slopes upward at an angle beta to the horizontal. Treat the ball as a uniform, solid sphere, ignoring the finger holes. What is the...

The demand function for a certain product is p = 81 - x2 and the supply function

Question:

Step by Step Answer:

x 2 4x1181x 2 2x 2 4x...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions